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They are a non-deposit taking systemically important NBFC in the gold loan sector lending money against the pledge of household gold jewellery in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Delhi and Goa and the union territory of Puducherry.
Muthoottu Mini Financiers is coming up with secured and unsecured NCD bonds now. These NCD bonds would open for subscription on 18th August, 2021. Muthoottu Mini Financiers is a leading NBFC company in India which is focused on providing loans against household gold jewellery. The interest rates for Muthoottu Mini Financiers NCD are up to 10% and yield is up to 10.47%. These NCDs are offered for 480 days to 84 months tenure. These interests are paid either monthly or on maturity.
Muthoottu Mini NCD – August 2021 Issue
Subscription opens on 18-August-2021
Subscription closes on 9-September-2021
These NCD’s are available in 7 different options. The tenure for these NCDs are for 480 days, 24 months, 42 months, 50 months, 66 months and 84 months. Coupon interest rates are between 8.75% to 10%. Yield on these NCD bonds works out up to 10.47% which is highest. It issues secured NCDs + unsecured NCDs. Its unsecured NCDs are for 66 months + 84 months tenure. Interest is payable monthly or on maturity depending on the option chosen by the NCD investor. The face value of the NCD bond is Rs 1000.Minimum investment is for the 10 bonds. Means, you need to invest for a minimum of Rs 10,000. Beyond this you can invest in multiples of 1 bond. These NCD bonds would be listed on BSE within 6 working days from the issue closure date. Hence these are somewhat liquid investments. These are allotted on first come first serve basis. Hence the issue can be closed before this date if it is oversubscribed before the closure date.NRI’s cannot apply to this NCD subscription. The base issue size for August 2021 NCD issue is Rs 125 Crores with an option to retain over subscription up to Rs 125 Crores totalling to Rs 250 Crores. Secured NCDs would be issued to the tune of Rs 200 Crores and unsecured NCDs for the balance of Rs 50 Crores.Vivro Financial Services Pvt Limited is the lead manager for this NCD issue.
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